Data collected to deal with excessive debt in Azerbaijan
Azerbaijan, Baku, Feb.20 /Trend N.Ismayilova/
Association of Microfinance Organizations of Azerbaijan (AMFA) will complete the processing of the data in autumn within the framework of the project against excessive debt, executive director Jale Hajiyeva told Trend on Monday.
The project covers four regional centers - Sheki, Lankaran, Ganja and Baku, where the association collects data on clients who have active loans from several organizations operating in the same region. Studies in Sheki covered 11 organizations. At present, data are collected from 15 organizations in Lankaran and about 20 organizations in Baku and Ganja each.
"We have completed data collection in Shaki and Lankaran. This process has already begun in Ganja. It will end in April. The process of collecting data will begin in Baku and Absheron in June and we will complete this study closer to October," Hajiyeva said.
This project of AMFA is funded by EFSE (European Fund for Southeast Europe), and technical support is provided by the Polish Center of microfinance. This study will cover the 1100 respondents who are the clients of microfinance organizations in 60 regions of the country. Similar studies were carried out in Bosnia and Herzegovina. Azerbaijan became the third country where they are held. International organizations help to make recommendations regarding the role of microfinance institutions and the extent to which they can improve the situation of excessive debt in the country.
"The results of studies conducted by EFSE will be provided to the public in April," Hajiyeva said.
The total micro credit portfolio of AMFA members amounted to $646 million at the end of 2011. The share of micro credit portfolio under risk is three percent compared to 3.27 percent in 2010. The volume of written off loans amounted to $424.99 thousand.
There are 29 members in the Association.